Mr. William Sheriff reports

ENCORE ENERGY PROVIDES UPDATE ON EXPECTED DISTRIBUTION OF VERDERA COMMON SHARES TO ITS SHAREHOLDERS

EnCore Energy Corp. expects to distribute common shares of Verdera Energy Corp. to its shareholders after the effectiveness of Verdera's resale registration statement and will announce a record date prior to any such distribution.

As previously disclosed, the company, NM Energy Holding Canada Corp. and Verdera entered into (i) a share purchase agreement, dated March 17, 2025, pursuant to which, among other things, the company was issued 50 million non-voting preferred shares of Verdera; and (ii) a side letter dated April 4, 2025, by and between the company and Verdera, pursuant to which Verdera agreed to register the common shares issuable on conversion of the consideration shares under the Securities Act of 1933, as amended, and the company agreed, subject to the satisfaction of certain conditions, including, but not limited to, the effectiveness of a resale registration statement of Verdera, to elect to convert 35 million consideration shares into Verdera common shares and set a record date for, and complete, the company's distribution of such shares to the company's shareholders by way of stock dividend or similar distribution. Verdera has informed the company that it expects to file the resale registration statement with the Securities and Exchange Commission (the SEC) promptly, which will become effective following the standard review and comment process of the SEC. Following the resale registration statement being declared effective by the SEC, the company may proceed with the distribution of the distribution shares.

On Feb. 12, 2026, Verdera announced the closing of its $20-million subscription receipt financing. This financing was completed in advance of completion of the business combination with POCML 7 Inc., a capital pool company listed on the TSX Venture Exchange.

Subject to completion of the business combination, Verdera will become a wholly owned subsidiary of POCML 7 which will change its name to Verdera Energy Corp. and commence trading on the TSX-V under the ticker symbol V. On Feb. 17, 2026, Verdera announced that the closing of the business combination is currently scheduled to occur on or about Feb. 20, 2026, with trading on the TSX-V to commence on or about Feb. 24, 2026, subject to meeting all listing requirements. Detailed information on the transaction and the companies is available in a TSX-V filing statement, which can be viewed at SEDAR+ under filings for POCML7.

About EnCore Energy Corp.

EnCore Energy is committed to providing clean, reliable and affordable fuel for domestic nuclear energy. EnCore Energy is the only uranium company in the United States with multiple operational central processing plants, both located in South Texas. The EnCore team is led by industry experts with extensive knowledge and experience in all aspects of uranium in-situ recovery (ISR) operations and the nuclear fuel cycle. EnCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at EnCore Energy.

Following upon EnCore's demonstrated success in South Texas, future projects in EnCore's planned project pipeline include the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming. The company holds other assets including, non-core assets and proprietary databases. EnCore is committed to working with local communities and indigenous governments to create positive impact from corporate projects.

We seek Safe Harbor.